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#DAVE RAMSEY PERCENTAGES FOR BUDGET CODE#
#DAVE RAMSEY PERCENTAGES FOR BUDGET PLUS#

Finding ways to save on electric or cellphone service could help you get closer to the Dave Ramsey recommended percentages for this category.įor example, I save $1200 a year on cellphone service by using a prepaid plan versus a contract phone. You could also add cellphone service and internet service here as well. The utilities category covers things like water, electric and natural gas–whatever you need to power your home. Use this link to join Ibotta (it’s free) and claim up to $20 in bonus cash now! Utilities – 5% to 10% Ibotta pays you cash back at supermarkets and you can also earn bonuses for referring friends and family. You can also use the Ibotta app to earn money back on grocery trips.

Keep a list of go-to dirt cheap meals you can make for pennies per serving.

Plan meals around less expensive food items.

Use meal planning to keep your grocery list in check.

If you spend more than 10-15% of your pay on food, there are some things you can do to trim down this budget category. That includes food at home as well as restaurant meals or takeout. Here, Dave recommends budgeting 10% to 15% of your net income on food. Food – 10% to 15%įood might be one of your biggest spending categories, especially if you have kids. Once you get your $1000 saved, you can work your way through the remaining baby steps.

This $1000 buffer is meant to cover smaller emergencies so you don’t have to use a credit card to pay for them. The first step is saving $1000 in a baby emergency fund. If you haven’t read The Total Money Makeover, it’s based on Dave’s baby steps method for getting out of debt. One thing I like about using Dave Ramsey budget percentages is that saving is near the top of the list. But ultimately, you have to decide for yourself what you’re comfortable with giving and what you can afford if you have debt. Now, what if you have debt? Does it still make sense to follow the Ramsey budget percentages then?ĭave would tell you yes, that giving 10% right off the top is a must, even if you have debt. This can be tithing if you belong to a religious organization or giving to causes that you believe in. Specifically, he recommends earmarking 10% of your budget to giving. Giving – 10%ĭave Ramsey’s financial philosophy includes leaving room in your budget for giving. Here’s a closer look at what each budget category covers. The different percentages are based on net income, or what you take home after taxes. The Dave Ramsey budget percentages method assumes you group your spending into 11 different categories. Related post: 30-30-30-10 Budget Explained (Pay Your Bills and Still Have Fun!) Dave Ramsey Budget Categories Explained

So there’s some flexibility, which is good if you tend to spend a little more in some budget categories or a little less in others. Others give you a range of percentages to work with. One thing that should be clear right away is that some of these budget categories have a fixed percentage. If you’re the visual learner type, here’s a chart that shows you what the Dave Ramsey budget percentages look like in action. He recommends these household budget percentages for dividing up spending:

#DAVE RAMSEY PERCENTAGES FOR BUDGET CODE#

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#DAVE RAMSEY PERCENTAGES FOR BUDGET PLUS#

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